比特币价格即将上涨

正如一份新报告所详述的那样，预计 25 亿美元的稳定币涌入可能会推动比特币价格大幅上涨。

Bitcoin Price Boost Is Incoming

比特币价格即将上涨

Keeping a close eye on crypto money flows is critical for understanding market conditions that can either accelerate or hinder Bitcoin's price movements, a new report by 10x Research has found.

10x Research 的一份新报告发现，密切关注加密资金流对于了解可能加速或阻碍比特币价格走势的市场状况至关重要。

“Traders are often caught off guard by price crashes, missing the critical signals these flows offer. However, the inverse is also critical; a sustained increase in money flows can drive higher prices, but many also miss these indicators,” Markus Thielen, a market researcher at 10x Research, wrote in the report.

“交易者常常对价格暴跌措手不及，错过了这些资金流提供的关键信号。然而，反过来也很关键。资金流的持续增加可以推高价格，但许多人也错过了这些指标，”10x Research 市场研究员马库斯·蒂伦 (Markus Thielen) 在报告中写道。

Money flows can predict price movements in both directions, the report explains. For instance, a worsening money flow environment was signaled in April 2024, which indicated a price correction as “broad money flows largely paused.”

报告解释说，资金流向可以预测两个方向的价格变动。例如，2024 年 4 月就发出了资金流动环境恶化的信号，这表明价格将出现调整，因为“广义资金流动基本暂停”。

“A resurgence in certain money flows helped lift prices as markets approached bottoms. The critical factor was monitoring the sustainability of these flows, as rallies often lost momentum without continued support,” Thielen added.

“随着市场接近底部，某些资金流的复苏帮助推高了价格。关键因素是监测这些资金流的可持续性，因为如果没有持续的支持，反弹往往会失去动力，”蒂伦补充道。

The report goes on to highlight the most recent activities involving major stablecoin issuers.

该报告接着重点介绍了主要稳定币发行人的最新活动。

Last night, Tether minted $1 billion in USDT, which Thielen categorizes as an inventory build rather than immediate market issuance. This distinction is essential as it suggests a preparatory step for potential future market actions rather than immediate liquidity injection.

昨晚，Tether 铸造了 10 亿美元的 USDT，蒂伦将其归类为库存建设，而不是立即市场发行。这种区别至关重要，因为它表明为未来潜在的市场行动采取了准备步骤，而不是立即注入流动性。

Moreover, the researcher makes an important observation regarding recent issuances by Tether and Circle, which together total nearly $2.8 billion. Thielen interprets this as a strong indication of institutional investors deploying fresh capital into the crypto market, which historically signals bullish conditions for Bitcoin.

此外，研究人员还对 Tether 和 Circle 最近发行的债券进行了重要观察，发行总额总计近 28 亿美元。蒂伦将此解释为机构投资者将新资本部署到加密货币市场的强烈迹象，这在历史上预示着比特币的看涨状况。

“If this trend of issuance (not just minting) continues, Bitcoin could see further gains,” Thielen remarks.

蒂伦表示：“如果这种发行趋势（不仅仅是铸造）继续下去，比特币可能会进一步上涨。”

Further to Thielen's analysis, on-chain analysis platform Lookonchain reported yesterday via X:

根据 Thielen 的分析，链上分析平台 Lookonchain 昨天通过 X 报道称：

“Tether Treasury minted 1B USDT on Ethereum again 20 mins ago. Over the last year, a total of 32B USDT has been minted by Tether Treasury!”

“20 分钟前，Tether Treasury 在以太坊上再次铸造了 1B USDT。去年，Tether Treasury 共铸造了 32B USDT！”

Additionally, Lookonchain may have found a reason for the large issuance of new stablecoins. The firm found that substantial amounts of USDT flowed to Cumberland.

此外，Lookonchain 可能已经找到了大量发行新稳定币的原因。该公司发现大量 USDT 流向坎伯兰。

They remarked, “In just 8 days, Cumberland has injected 1.04B USDT into the crypto market! An hour ago, Cumberland again received 141.5M USDT from Tether Treasury and transferred it to major exchanges like Kraken, OKX, Binance, and Coinbase.”

他们表示：“短短8天，Cumberland就向加密市场注入了1.04B USDT！一小时前，Cumberland再次从Tether Treasury收到1.415亿USDT，并将其转移到Kraken、OKX、Binance和Coinbase等主要交易所。

More Bullish Catalysts

更多看涨催化剂

Crypto analyst Miles Deutscher offered another reason to be bullish on Bitcoin via X.

加密货币分析师 Miles Deutscher 通过 X 提供了看好比特币的另一个理由。

He noted that the current market conditions resemble the multi-month consolidation from 2023, suggesting a potential end to this phase based on similar chart formations and a sharp decline in retail interest.

他指出，当前的市场状况类似于 2023 年以来的数月盘整，这表明基于类似的图表形态和零售兴趣的急剧下降，这一阶段可能会结束。

“This feels eerily similar to August-October last year. Retail interest is evaporating fast (YT views have fallen off a cliff over the past week). Apathy amongst existing market participants. Lack of clear narratives (and the #Bitcoin price action looks identical too),” Deutscher stated.

“这感觉与去年八月至十月非常相似。零售兴趣正在迅速消失（过去一周，YT 的观看次数急剧下降）。现有市场参与者冷漠。缺乏清晰的叙述（#Bitcoin 价格走势看起来也相同），”多伊彻表示。

Charles Edwards, founder of Capriole Investments, added a macroeconomic perspective, highlighting the expansion of the global money supply as a historical driver for rising Bitcoin prices.

Capriole Investments 创始人查尔斯·爱德华兹 (Charles Edwards) 补充了宏观经济视角，强调全球货币供应量扩张是比特币价格上涨的历史驱动力。

“Global money supply is expanding up. Plus, we just broke out of a massive 4-year consolidation. What do you think this means for Bitcoin?” he posed rhetorically, suggesting a bullish outlook based on this factor.

“全球货币供应量正在扩大。另外，我们刚刚摆脱了为期四年的大规模整合。您认为这对比特币意味着什么？”他提出了基于这一因素的乐观前景。

At press time, BTC trades at $60,853.

截至发稿时，BTC 交易价格为 60,853 美元。